ST. LOUIS, Nov. 21, 2013 /PRNewswire/ -- The board of directors of The Laclede Group, Inc. (NYSE: LG) increased the quarterly common stock dividend to $0.44 per share from $0.425 per share, which raises the annualized rate by 3.5% to $1.76 per share.
"The Board unanimously supported this increase, given the importance our investors place on the dividend and our track record of growing it responsibly over time," said Bill Nasser, chairman of the board of The Laclede Group. "This increase reflects our solid financial position, our strong gas utility operating performance and our confidence in the future."
The dividend is payable on January 3, 2014, to shareholders of record on December 11, 2013. The Laclede Group has continuously paid a cash dividend since 1946, with 2014 marking the Company's 11th consecutive year of increasing its dividend on an annualized basis.
ABOUT THE LACLEDE GROUP
The Laclede Group, Inc. (NYSE: LG), headquartered in St. Louis, Missouri, is a public utility holding company. The Gas Utility segment serves St. Louis and eastern Missouri through Laclede Gas and serves Kansas City and western Missouri through Missouri Gas Energy. Together they provide more than 1.1 million residential, commercial and industrial customers with safe and reliable natural gas service. Laclede's primary non-utility business, Laclede Energy Resources, Inc., included in the Gas Marketing segment, provides non-regulated natural gas services. Laclede Group is committed to pursuing growth through 1) developing and investing in emerging technologies; 2) investing in infrastructure; 3) acquiring businesses to which the Company can apply its operating model, and 4) leveraging its current business unit competencies. For more information about Laclede and its subsidiaries, visit www.TheLacledeGroup.com.
SOURCE The Laclede Group, Inc.